Occidental Asset Management LLC Trims Position in NVIDIA Co. (NASDAQ:NVDA)

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Occidental Asset Management LLC cut its position in NVIDIA Co. (NASDAQ:NVDA) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,930 shares of the computer hardware maker’s stock after selling 456 shares during the period. NVIDIA comprises 0.8% of Occidental Asset Management LLC’s portfolio, making the stock its 26th largest holding. Occidental Asset Management LLC’s holdings in NVIDIA were worth $1,866,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Sanders Morris Harris LLC lifted its position in NVIDIA by 1.0% during the fourth quarter. Sanders Morris Harris LLC now owns 4,904 shares of the computer hardware maker’s stock valued at $1,123,000 after purchasing an additional 48 shares during the last quarter. Hemenway Trust Co LLC lifted its position in NVIDIA by 0.4% during the fourth quarter. Hemenway Trust Co LLC now owns 13,337 shares of the computer hardware maker’s stock valued at $3,138,000 after purchasing an additional 50 shares during the last quarter. WealthPLAN Partners LLC lifted its position in NVIDIA by 2.7% during the third quarter. WealthPLAN Partners LLC now owns 1,952 shares of the computer hardware maker’s stock valued at $407,000 after purchasing an additional 51 shares during the last quarter. New England Investment & Retirement Group Inc. lifted its position in NVIDIA by 2.0% during the third quarter. New England Investment & Retirement Group Inc. now owns 2,625 shares of the computer hardware maker’s stock valued at $457,000 after purchasing an additional 52 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in NVIDIA by 5.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,131 shares of the computer hardware maker’s stock valued at $197,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 65.02% of the company’s stock.

Several equities analysts have commented on NVDA shares. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 price objective on shares of NVIDIA in a research report on Friday, November 15th. Edward Jones started coverage on shares of NVIDIA in a research report on Friday, December 20th. They set a “hold” rating for the company. Piper Sandler increased their price objective on shares of NVIDIA from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday. Royal Bank of Canada reiterated a “buy” rating on shares of NVIDIA in a research report on Friday, January 3rd. Finally, ValuEngine lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $228.86.

NVDA stock opened at $247.76 on Thursday. The company has a market capitalization of $150.29 billion, a PE ratio of 40.82, a P/E/G ratio of 6.13 and a beta of 2.04. NVIDIA Co. has a 12 month low of $131.00 and a 12 month high of $252.99. The firm’s 50-day moving average is $229.80 and its 200 day moving average is $191.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.42 and a quick ratio of 7.71.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, November 14th. The computer hardware maker reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.21. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.92 billion. NVIDIA had a net margin of 24.08% and a return on equity of 22.02%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 EPS. Sell-side analysts forecast that NVIDIA Co. will post 4.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Wednesday, November 27th. NVIDIA’s dividend payout ratio (DPR) is 10.54%.

In related news, CFO Colette Kress sold 2,000 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.43, for a total value of $470,860.00. Following the completion of the sale, the chief financial officer now directly owns 169,989 shares in the company, valued at approximately $40,020,510.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert K. Burgess sold 8,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $230.71, for a total transaction of $1,845,680.00. Following the completion of the sale, the director now owns 13,894 shares of the company’s stock, valued at $3,205,484.74. The disclosure for this sale can be found here. Insiders have sold a total of 45,785 shares of company stock worth $9,965,644 in the last three months. Insiders own 4.64% of the company’s stock.

NVIDIA Profile

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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